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Maryland company merger sees public support

A recent blog post discussed two companies waiting for the Federal Energy Regulatory Commission's decision on a merger deal. Recently in the news, the Maryland Public Service Commission's first of three planned public comment hearings regarding the proposed merger between Maryland-based Constellation Energy Group and Exelon was sparsely attended, but several community groups from the area spoke out in support of the deal.

The Maryland PSC, which reviews and approves all Business acquisitions, is currently evaluating the $7.9 billion agreement and decided to hold the three meetings in order to gauge public onion on the matter. The president of the PSC explained that obtaining public input was an important part of his agency's procedures.

The first meeting was reportedly short, with four people making statements about the proposal. There were about two dozen attendees, many of which were attorneys representing the companies or representatives of the companies themselves. Several groups included a family center, YMCA, the American Red Cross of Central Maryland and a construction and building trade group.

An official with the family center said that Constellation has provided his organization with donations for several years, adding that he hopes the merger would ensure the further strengthening of such philanthropic efforts. The president of the construction group claimed the merger would improve the local economy, as both firms have announced plans for renovating or building a new headquarters in Maryland. He said such a project would allow the state's construction industry to easily recover and would create jobs.

However, one speaker questioned how the merger would affect Maryland residents at large. He asked whether the deal would affect those who work for Constellation and whether it could potentially lower or raise electricity rates.

Source: Baltimore Sun, "Few show for hearing on Constellation's proposed merger," Hannah Cho, Nov. 29, 2011

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